Business Interruption Coverage

Don’t suffer a total loss if your business is forced to close temporarily

A core element to your business owners policy (BOP) is Business Interruption Insurance, or also known as business income insurance. This policy helps you pay bills, replace lost income and cover payroll in the event your business is forced to close temporarily.

Calculating how much business interruption insurance coverage you will need is based on several factors. Not only considering the “worst-case” scenario, such as a fire or total building loss, consider calculating loss of profits and costs to rebuild or relocate. Other things to consider include:

    • How much your business would’ve grown in that time
    • Costs to move or relocate
    • Inventory replacement
    • Costs associated with being in a temporary location, signage, advertising, communication
    • Costs to keep your employees during a downtime or transition

Determining how much coverage you will need is important and what you need covered.
Coverage can include:

    • Loss of profits
    • Mortgage or rent replacement
    • Cost of utilities, taxes and advertising
    • Payroll expenses
    • Relocation fees

Business interruption insurance works along side your commercial property insurance providing more than just physical damage coverage. 

Fire isn’t the only “worst-case” scenario, in Texas we are subject to winds, flooding, tornados, vandalism and more. 

It is important you review your policy every year, that you are always covered to the limits you need to keep your business up and running. The professionals at MMIS are ready to help.